Cerity Partners LLC boosted its stake in General Dynamics Corporation (NYSE:GD – Free Report) by 13.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,219 shares of the aerospace company’s stock after acquiring an additional 13,614 shares during the period. Cerity Partners LLC’s holdings in General Dynamics were worth $39,127,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in GD. Dunhill Financial LLC raised its holdings in General Dynamics by 620.0% in the third quarter. Dunhill Financial LLC now owns 72 shares of the aerospace company’s stock valued at $25,000 after acquiring an additional 62 shares in the last quarter. KERR FINANCIAL PLANNING Corp bought a new stake in General Dynamics during the third quarter valued at $25,000. Dagco Inc. bought a new stake in General Dynamics during the fourth quarter valued at $25,000. Burkett Financial Services LLC increased its stake in General Dynamics by 650.0% during the third quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 65 shares during the last quarter. Finally, Steph & Co. increased its stake in General Dynamics by 65.2% during the fourth quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 30 shares during the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
GD has been the subject of several recent research reports. UBS Group lowered their target price on shares of General Dynamics from $385.00 to $371.00 and set a “neutral” rating for the company in a research note on Thursday, April 30th. Wall Street Zen lowered shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 23rd. The Goldman Sachs Group lowered their target price on shares of General Dynamics from $327.00 to $313.00 and set a “sell” rating for the company in a research note on Monday, May 4th. BNP Paribas Exane lowered their target price on shares of General Dynamics from $430.00 to $390.00 and set an “outperform” rating for the company in a research note on Thursday, April 30th. Finally, Citigroup lowered their target price on shares of General Dynamics from $380.00 to $364.00 and set a “neutral” rating for the company in a research note on Monday, May 18th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, General Dynamics presently has an average rating of “Moderate Buy” and a consensus target price of $387.40.
General Dynamics Stock Down 1.2%
General Dynamics stock opened at $341.46 on Thursday. The company has a 50-day simple moving average of $339.82 and a 200-day simple moving average of $346.36. The firm has a market capitalization of $92.34 billion, a P/E ratio of 21.49, a P/E/G ratio of 2.14 and a beta of 0.34. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.38. General Dynamics Corporation has a one year low of $268.10 and a one year high of $369.70.
General Dynamics (NYSE:GD – Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, topping the consensus estimate of $3.67 by $0.43. The business had revenue of $13.48 billion during the quarter, compared to analyst estimates of $12.70 billion. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The company’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.66 earnings per share. As a group, equities analysts expect that General Dynamics Corporation will post 16.62 earnings per share for the current year.
General Dynamics Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Thursday, July 2nd will be given a dividend of $1.59 per share. The ex-dividend date is Thursday, July 2nd. This represents a $6.36 annualized dividend and a dividend yield of 1.9%. General Dynamics’s dividend payout ratio is currently 40.03%.
Insider Activity at General Dynamics
In other news, EVP Mark Lagrand Burns sold 36,480 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the completion of the transaction, the executive vice president owned 38,975 shares in the company, valued at approximately $13,457,677.75. This represents a 48.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.40% of the company’s stock.
About General Dynamics
General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.
Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.
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